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Real Madrid president Florentino Perez is preparing to hold the club’s General Assembly of Representatives on 21 November, with a possible change to the ownership model expected to dominate the meeting.
The proposed restructuring has not yet been formally announced on the agenda, but the assembly is being closely watched after Perez previously said he wanted to discuss changes to the club’s ownership structure at an extraordinary meeting that was never held.
The meeting is scheduled to take place on the same day Real Madrid return to the Santiago Bernabeu to face Celta Vigo. That fixture will come exactly one month after their previous home match, against Leipzig on 21 October.
Real Madrid’s schedule before then includes Sunday’s away game against Racing Santander, followed by a match against Athens on Wednesday, 4 November, and a visit to Valencia at Mestalla on Saturday, 7 November. The period also includes an international break involving two national-team fixtures, as well as another American football match at the Santiago Bernabeu.
Although the club has not published the assembly’s agenda, its regular business generally includes approval of the previous year’s accounts, the budget for the following year and the board’s financial report. This time, however, attention is focused on whether Perez will put the ownership proposals to representatives.
During the most recent election campaign, in which Enrique Riquelme received the backing of 35% of Real Madrid members, Perez’s board opened the possibility of a vote on changing the club’s structure. The proposal would involve transferring some assets to a limited company controlled by Real Madrid.
Perez has also suggested that a small percentage of shares in that company could eventually be offered on the market, with two investment partners contributing €1bn in total – €500m each.
The ACS president has not identified the potential investors. Reports have linked the proposal to investment fund Sixth Street and businessman Bernard Arnault, who already works with the club through Louis Vuitton.
Real Madrid have remained silent on the issue publicly and have not provided members with details. Representatives are still unaware of the date of the assembly or the subjects that will be discussed.
Opposition has emerged among supporters who fear the plans amount to “selling the club” by allowing outside investors to become partners. Perez has previously insisted those investors would not have decision-making power, but those assurances have not removed concerns among many fans and members.
They believe the changes could be the first step towards Real Madrid becoming a sports limited company, like most clubs in Spain’s top division.
Reichart appointment adds to scrutiny
The assembly may also discuss the arrival of Bernd Reichart, the former chief executive of A22 Sports Management, the company promoting the European Super League. Reichart is expected to oversee product-related operations at Real Madrid.
Within the club, his appointment has been viewed as a strategic move planned by Anas Laghrari, Perez’s right-hand man, ahead of possible legal and economic changes.
Other subjects expected to feature include Real Madrid’s talks with UEFA, the club’s next steps in the Negreira case, the proposed technology district and plans to host concerts at the Santiago Bernabeu from 2027.
